Archer Investment Corp Cuts Stake in International Business Machines Corporation $IBM

Key Points

• Archer Investment Corp cut its IBM stake by 49.1% in the first quarter, selling 2,048 shares and leaving it with 2,127 shares worth about $516,000.
• IBM reported stronger-than-expected quarterly results, with EPS of $1.91 versus $1.81 expected and revenue of $15.92 billion versus $15.60 billion estimated, while revenue rose 9.5% year over year.
• The company raised its quarterly dividend to $1.69 per share, boosting the annualized payout to $6.76 and implying a 2.3% yield; analysts currently rate the stock a consensus Moderate Buy with an average target price of $306.28.

Archer Investment Corp cut its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 49.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,127 shares of the technology company's stock after selling 2,048 shares during the quarter. Archer Investment Corp's holdings in International Business Machines were worth $516,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Birinyi Associates Inc. increased its holdings in shares of International Business Machines by 6.0% in the 1st quarter. Birinyi Associates Inc. now owns 24,059 shares of the technology company's stock worth $5,832,000 after purchasing an additional 1,355 shares in the last quarter. TFR Capital LLC. lifted its holdings in shares of International Business Machines by 16.9% during the first quarter. TFR Capital LLC. now owns 1,319 shares of the technology company's stock valued at $320,000 after purchasing an additional 191 shares in the last quarter. Citizens National Bank Trust Department lifted its holdings in shares of International Business Machines by 39.2% during the first quarter. Citizens National Bank Trust Department now owns 9,444 shares of the technology company's stock valued at $2,289,000 after purchasing an additional 2,659 shares in the last quarter. Chicago Partners Investment Group LLC boosted its position in shares of International Business Machines by 5.1% during the first quarter. Chicago Partners Investment Group LLC now owns 24,103 shares of the technology company's stock valued at $6,071,000 after buying an additional 1,161 shares during the last quarter. Finally, Gratus Wealth Advisors LLC boosted its position in shares of International Business Machines by 9.3% during the first quarter. Gratus Wealth Advisors LLC now owns 6,661 shares of the technology company's stock valued at $1,615,000 after buying an additional 568 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.

International Business Machines Stock Up 1.0%

International Business Machines stock opened at $290.46 on Tuesday. International Business Machines Corporation has a one year low of $212.34 and a one year high of $332.46. The stock has a fifty day moving average of $264.95 and a 200 day moving average of $265.82. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.76 and a current ratio of 0.80. The stock has a market cap of $273.00 billion, a PE ratio of 25.68, a price-to-earnings-growth ratio of 2.78 and a beta of 0.68.

International Business Machines (NYSE:IBM - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The technology company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.81 by $0.10. The business had revenue of $15.92 billion for the quarter, compared to analysts' expectations of $15.60 billion. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The business's revenue for the quarter was up 9.5% on a year-over-year basis. During the same period last year, the firm posted $1.60 earnings per share. As a group, sell-side analysts predict that International Business Machines Corporation will post 12.45 EPS for the current year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 8th were given a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a yield of 2.3%. This is a positive change from International Business Machines's previous quarterly dividend of $1.68. The ex-dividend date was Friday, May 8th. International Business Machines's dividend payout ratio (DPR) is presently 59.77%.

Analyst Upgrades and Downgrades

IBM has been the subject of a number of recent analyst reports. DZ Bank raised International Business Machines from a "hold" rating to a "buy" rating and set a $295.00 target price for the company in a research report on Friday, April 24th. Morgan Stanley raised shares of International Business Machines from an "equal weight" rating to an "overweight" rating in a report on Tuesday, June 23rd. Jefferies Financial Group initiated coverage on shares of International Business Machines in a research note on Tuesday, June 23rd. They issued a "buy" rating for the company. Citigroup boosted their price objective on shares of International Business Machines from $285.00 to $375.00 and gave the company a "buy" rating in a report on Tuesday, June 2nd. Finally, Wolfe Research downgraded shares of International Business Machines to a "peer perform" rating in a research report on Tuesday, June 23rd. Sixteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $306.28.

Key Stories Impacting International Business Machines

Here are the key news stories impacting International Business Machines this week:

• Positive Sentiment: Jim Cramer called IBM inexpensive, praised CEO Arvind Krishna’s execution, and suggested buying the stock, reinforcing the bullish view that the company is undervalued. Jim Cramer on IBM: “It’s Inexpensive and Arvind Krishna’s Doing a Fantastic Job”
• Positive Sentiment: IBM unveiled major updates to its Bob AI platform, which could improve its competitive position in enterprise AI and support the stock’s growth narrative. IBM Just Unveiled Major Updates to Its Bob AI Platform. How to Play IBM Stock Here.
• Positive Sentiment: Market commentary on IBM’s quantum efforts and its presence in a Capitol Hill quantum tech showcase kept attention on the company’s long-term technology upside. Quantum Tech on Capitol Hill: Nvidia, IBM and More Stocks to Watch
• Positive Sentiment: Analysts and media reports framed IBM as a potential dividend-and-growth name, suggesting investors still see defensive appeal alongside capital appreciation potential. 3 Dividend Stocks with Growth on Tap for the Second Half
• Neutral Sentiment: Several articles debated IBM’s place in the AI trade and whether it can remain steady through an AI “reset,” but these pieces were more about positioning than a clear new catalyst. Can IBM NYSE: IBM Stay Steady Through the AI Reset?
• Neutral Sentiment: A comparison article argued HubSpot has the edge over IBM on faster growth and valuation, which is a mild reminder that IBM still faces competition for AI investor dollars. HubSpot vs. IBM: Which AI Software Stock is a Better Buy Now?

About International Business Machines

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM's principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.